Dublin, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The "Hydroponics Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global hydroponics market is expected to grow from $11.33 billion in 2021 to $12.62 billion in 2022 at a compound annual growth rate (CAGR) of 11.34%. The hydroponics market is expected to reach $18.64 billion in 2026 at a CAGR of 10.26%.
Western Europe was the largest region in the hydroponics market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydroponics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing demand for exotic vegetables is expected to propel the hydroponics market. Rapid growth in urban population among emerging economies, and the growing establishment of gourmet restaurants across the globe are contributing to rapid growth in consumption of exotic vegetables such as mushrooms, tangy kiwis, green olives, and fresh broccoli, dragon fruit, and others.
The increasing demand for exotic vegetables is expected to boost demand for a hydroponic system, as the commercial farmers involved in this sector are investing in advanced plantation equipment such as hydroponics to reduce operational expenses and increase profits. For Instance, In September 2021, according to estimates of agro farming, the Indian exotic vegetable market is expected to increase from 332 million metric tons by 2020 to 432 million metric tons by 2026. Therefore, the increasing demand for exotic vegetables is expected to boost demand for hydroponics systems during the forecast period.
Technological advancement is a key trend gaining popularity in the hydroponics market. Major companies operating in the hydroponics market are focused on providing technologically-advanced solutions to meet end-customer demands and strengthen their market position. These companies are implementing next-generation hydroponics solutions and technologies into their services, such as nutrient film technique, Ebb and Flow System, wick system, communication technology, sensors, irrigation systems, automation, robotics, artificial intelligence system, machine learning, computer vision, and others to grow plants in small spaces.
For instance, in November 2021, Iron Ox, US-based robotics and artificial intelligence-based farming company launched Grover, an autonomous mobile robot to assist farmers with monitoring, watering, and harvesting a wide variety of crops. Through automation and computer vision, Grover autonomously navigates the need of plants related to sunlight, nutrition, and water.
In August 2021, Cargill, a US-based food and beverage manufacturing company, partnered with AeroFarms to improve cocoa bean yields by using more climate-resilient farming practices. With this partnership, these two firms will test various indoor growing technology such as aeroponics and hydroponics, light, carbon dioxide, irrigation, nutrition, plant space, and pruning to identify the best growth environment for cocoa trees. Aerofarms is a US-based farming company specialized in agriculture, aeroponics, hydroponics, leafy greens, clean technology, sustainable, vertical farming, and circular economy.
Scope
Markets Covered:
1) By Type: Aggregate Systems; Liquid Systems
2) By Farming: Indoor Farming; Outdoor Farming
3) By Crop Type: Vegetables; Fruits; Flowers
Key Topics Covered:
1. Executive Summary
2. Hydroponics Market Characteristics
3. Hydroponics Market Trends And Strategies
4. Impact Of COVID-19 On Hydroponics
5. Hydroponics Market Size And Growth
6. Hydroponics Market Segmentation
7. Hydroponics Market Regional And Country Analysis
8. Asia-Pacific Hydroponics Market
9. China Hydroponics Market
10. India Hydroponics Market
11. Japan Hydroponics Market
12. Australia Hydroponics Market
13. Indonesia Hydroponics Market
14. South Korea Hydroponics Market
15. Western Europe Hydroponics Market
16. UK Hydroponics Market
17. Germany Hydroponics Market
18. France Hydroponics Market
19. Eastern Europe Hydroponics Market
20. Russia Hydroponics Market
21. North America Hydroponics Market
22. USA Hydroponics Market
23. South America Hydroponics Market
24. Brazil Hydroponics Market
25. Middle East Hydroponics Market
26. Africa Hydroponics Market
27. Hydroponics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hydroponics Market
29. Hydroponics Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- AeroFarms
- Freight Farms
- ScottsMiracle-Gro
- General Hydroponics Inc.
- American Hydroponics
For more information about this report visit https://www.researchandmarkets.com/r/fktw1y
